RTA, Majid Al Futtaim to develop land near Mall of the Emirates
The development project is a part of the RTA’s Transit-Oriented Development programme to develop walking spaces
Dubai’s Roads and Transport Authority (RTA) and UAE conglomerate Majid Al Futtaim will develop a plot of land near the latter’s Mall of the Emirates and its linked Dubai Metro station as part of RTA’s transit oriented development (TOD) programme to increase the number of residential, business, and leisure spaces within walking distance of public transport hubs in Dubai.
In a statement on its website, RTA said that a memorandum of understating was signed for the project by chief executive officer of RTA's rail agency, Abdul Mohsen Ibrahim Younes, and CEO of Majid Al Futtaim Shopping Centres, Ghaith Shocair.
Commenting on the development, Younes said: “The signing of the MoU serves our objective of boosting the public-private partnership (PPP) model, which is vital for leveraging the economic growth of the UAE, especially Dubai.
"It comes at a time where the emirate is heading towards hosting a key economic event, Expo 2020 Dubai.”
Shocair said the project would “offer a big boost” to RTA’s TOD concept, adding: “Developing unused areas contributes to achieving an optimal solution to work, residential, and retail needs together with improved transit systems.”